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Preliminary hearing into Gamesa takeover of Made Tecnologias
1 July 2003
Gamesa's EUR 120 million deal to take over Made Tecnologías, the turbine manufacturing wing of utility Endesa, is not yet home and dry. Due to the deal's size and potential scope, it is now subject to a preliminary enquiry by the Spanish fair trading office, Servicio de Defensa de la Competencia (SDC). The deal, if it goes ahead, gives Gamesa an extra 12% of Spain's installed wind capacity on top of its existing 53.4%. If the SDC finds anomalies, the case will be fully investigated by the Tribunal de Defensa de la Competencia (TDC). A TDC enquiry into Gamesa's sale of 982 MW of wind plant to utility Iberdrola found in Gamesa's favour last year. Gamesa's purchase of Made will close a door into Spain on arch rival Vestas, which has also bid for Made. The Gamesa-Made agreement secures Gamesa turbine supplies totalling 890 MW for Endesa developments. Made staff say they have negotiated a satisfactory job security deal, which includes a fusion of the two company's R&D departments to create a hybrid machine. Gamesa's share of the world wind market is now about 15%.
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